China’s leading one-stop healthcare ecosystem platform, Ping An Healthcare and Technology Company Limited (“Ping An Good Doctor”, the “Company”, stock code: 1833.HK), is pleased to announce that the Company recently obtained the Pharmaceutical Trade Licence (Wholesale) (“the Licence”).
With the Licence, Ping An Good Doctor is able to develop its online and offline pharmaceutical business-to-business (B2B) business and pharmaceutical wholesale business, which will facilitate the sales of the Company’s health mall business and the consolidation of its resources.
The health mall business of Ping An Good Doctor commenced on August 2015, and it is operated under a direct sales model and marketplace model. The health mall provides users with diversified and evolving product offerings, including medicines, Chinese medicines, fitness equipment and personal care products. As of 31 December 2017, the health mall offered approximately 178,800 stock keeping units (SKU) with rapid growth in gross merchandise volume (GMV). Its GMV in 2017 reached RMB1.193 billion, representing a year-on-year growth of 536.8%.
During its annual “Double Seven Health Festival” from 7-12 July 2018, the health mall business of Ping An Good Doctor achieved a revenue growth of 188% year-on-year. More than 500 merchants and 5,000 pharmaceutical brands participated in the event, and the number of customers who made purchases increased by 60% compared with the previous year.